1898 (1898) Fair Value & Analysis

Energy · Market cap HK$131B

1 1898 1898 · HK

PriceHK$9.90

Fair ValueHK$15.11

Upside+52.6%

Quality56/100

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Evidence: Medium Range HK$10.91 – HK$21.51

Fair value as of: Jul 2, 2026

From 26 valuation models · updated today

Share price −24.1% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$8.53 – HK$14.88 · fair‑value band HK$10.91 – HK$21.51 · the HK$9.90 price screens below the HK$15.11 fair value. As of Jul 2, 2026.

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Analysis

1898 (1898) currently trades at HK$9.90, while our model-based Fair Value estimate is HK$15.11 — implying the stock looks roughly 52.6% undervalued today. We read business quality at 56/100 (solid quality), in the Energy sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium) — always confirm before acting.

Over the trailing twelve months, 1898 generated revenue of HK$144B at a net margin of 12.3%. Revenue declined 10.9% year over year. It earns a return on equity of 10.7%. Net debt stands at HK$37.4B. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$144B

Revenue growth (YoY) -10.9%

Net margin 12.3%

Return on equity 10.7%

Free cash flow HK$8.0B FY2025

P/E ratio 7.9

More key figures

Operating margin 16.0%

EPS (TTM) HK$0.7900

Dividend yield 4.0%

EPS growth (YoY) -3.3%

Net debt HK$37.4B FY2025

Figures from reported company fundamentals (EODHD) · as of Jul 2, 2026. TTM = trailing twelve months.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

1898 reported revenue of HK$144B in FY2025 versus HK$240B in FY2021, a compound −11.9%/yr. Reported net income was HK$14.1B in FY2025, compounding +0.7%/yr from FY2021.

Revenue −11.9%/yr

FY21 HK$240B

FY22 HK$221B

FY23 HK$193B

FY24 HK$182B

FY25 HK$144B

Net income +0.7%/yr

FY21 HK$13.7B

FY22 HK$18.3B

FY23 HK$19.5B

FY24 HK$18.2B

FY25 HK$14.1B

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Similar stocks

6 more Thermal Coal stocks, each showing price versus our Fair Value estimate (as of Jul 2, 2026).

Stock	Price	Fair Value	vs Fair Value
China Shenhua Energy Company 601088	¥48.52	¥31.15	-36%
Adani Enterprises Limited ADANIENT	₹3,060	₹936.66	-69%
Shaanxi Coal Industry Company 601225	¥23.30	¥26.44	+13%
Yankuang Energy Group 600188	¥23.49	¥16.60	-29%
China Coal Energy Company 601898	¥16.84	¥21.09	+25%
Coal India Limited COALINDIA	₹451.00	₹1,206	+167%

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Frequently asked questions

Is 1898 (1898) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$15.11 versus a price of HK$9.90 — about +53% (undervalued). Model-based estimate, not financial advice.

What is the fair value of 1898?

Our model-based fair value for 1898 is HK$15.11 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$9.90.

What is the quality score of 1898?

1898 has a Quality Score of 56/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 1898 (1898)?

1898 reported trailing-twelve-month revenue of about HK$144B (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 1898?

The net profit margin of 1898 is about 12.3%, meaning it keeps roughly 12.3% of revenue as net income. Based on the latest reported figures.

Does 1898 pay a dividend?

1898 currently shows a dividend yield of about 3.99% relative to its recent price (as of Jul 2, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.